Volume #1
Issue #3
Welcome to the 3RD issue of the new PB&J. We hope you have
been enjoying the past issues and we will continue to provide
helpful, interesting and fun information in each issue. If you
have some information that you think should be included in a
future issue, let us know by emailing [email protected].
PENSIONS & BENEFITS COMMITTEE
If you wish to talk directly to the Pensions & Benefits
Committee, you may do so courtesy of St. Paul’s High
School at
[email protected]
QUOTE OF THE NEWSLETTER!
Creative ideas reside in people’s minds but are trapped
by fear of rejection. Create a judgment-free
environment and you unleash a torrent of activity.
DO YOU KNOW HOW TO ACCESS YOUR GROUP
RETIREMENT PLAN ONLINE?
For web site access to your Group Retirement Plan, go to
www.grsaccess.com and enter your access ID and password. If you
don’t know your access ID and password, call the GRS Access Line
at 1-800-724-3402 between 8:00 a.m. and 8:00 pm ET to have an
access ID and password issued.
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WITH GRS ACCESS YOU CAN:
Monitor your investment & create a personalized statement
View your activity reports
Access forms
Update information
Read headlines
Find frequently asked questions
Use a glossary of terms
Walk through the entire retirement planning process
And Remember, Life begins at Retirement.
Goodbye Tension - Hello Pension.
OPTIONAL LIFE BENEFITS.
If your considering getting extra Life Insurance for you and your
Spouse, why not take advantage of the Optional Life Insurance
that’s provided under your MCSGS Group Benefits Plan. This
added benefit is relatively inexpensive and is rated based on your
age and gender. You can purchase Optional Life coverage in units
of $10,000 to a maximum of $200,000 or to a maximum of
$600,000 combined with your current Group Life Insurance. Evidence of Insurability is required for Optional Life, which, at your
convenience will be set up by MB Blue Cross.
If you wish to take advantage of this benefit, ask your Plan Administrator for a Blue Cross Change form. If you would like additional
information on Optional Life, call us at Sellors & Associates. We
are always happy to help.
THE GREAT WEST LIFE ASSURANCE COMPANY
INVESTMENT MENU FOR MANITOBA CATHOLIC
SCHOOLS.
As a member of the MCSGS Pension Plan, you have investment
fund choices, which we have outlined below:
FUND NAME
Asset Allocation Funds:
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Aggressive Strategy Fund
⇒
Advanced Strategy Fund
⇒
Balanced Strategy Fund
⇒
Moderate Strategy Fund
⇒
Conservative Strategy Fund
Term Investment-Daily Interest Account:
⇒
1 Year Compound Interest Account
⇒
2 Year Compound Interest Account
⇒
3 Year Compound Interest Account
⇒
4 Year Compound Interest Account
⇒
5 Year Compound Interest Account
The Term Investment vehicles pay the investor a predetermined rate
of interest on money invested for a predetermined amount of time.
The rate is guaranteed by the financial institution that is providing
the fund and is determined at the time of purchase by market conditions and the term that you select. You can choose to invest for different time periods, from one to five years. The rate will not change
over the term, even if the new rates are changing. You’ll be
“locked-in” at that rate and can only reinvest when the term is up or
pay a penalty to reinvest.
If you would like to review your Great West Life Portfolio on an
individual basis, please call Sellors & Associates anytime to sit up
a meeting. At no cost to you, we are more than happy to meet with
you at your convenience.
INTERESTING FACTS THAT WE ALL LOVE.
⇒ If you stop getting thirsty, you need to drink more water. For
when a human body is dehydrated, its thirst mechanism shuts off.
⇒ Chewing gum while peeling onions will stop you from crying.
⇒ Every time you sneeze some of your brain cells die.
⇒ When you blush the lining of your stomach also turns red.
⇒ It cost 7 million dollars to build the Titanic and 200 million to
make a film about it.
⇒ German Shepherds bite more humans than any other breed of dog.
⇒ Half of all identity thieves are either relatives, friends, or
neighbors of their victims.
⇒ Avocados have more protein than any other fruit.
⇒ Venus is the only planet that rotates clockwise.
TODAY IS THE TOMORROW WE
WORRIED ABOUT YESTERDAY.
BOATING & FISHING SAFETY TIPS
1)
2)
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4)
5)
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7)
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9)
10)
Always wear a lifejacket or personal flotation device.
Don’t drink and drive your boat.
Get your Pleasure Craft Operators card - it’s the law.
Check the forecast before you leave.
Always bring the right gear (paddles, whistles, flares, etc.)
Always drive responsible,
Never stand up in a canoe or small boat.
Get trained - take a lifesaving course.
Do not overload your boat.
Follow the rules of the road.
These helpful tips could save your life or the life of someone you
know.
BE SAFE THIS SUMMER.
SHOULD YOU TAKE YOUR CPP PENSION AT AGE 60? 65? 70?
Well, it depends. But, in a great many cases, the earlier you sign
on, the better off you’ll be.
You can receive CPP as early at age 65, provided you actually
stop working for a bit. Once you start receiving your pension,
you can still work as much as you want but you can’t contribute
based on any future employment earnings.
If you take CPP before age 65, your monthly pension is reduced
by 6% for each year you are under age 65. So a 60 year old
would see 70% of the available pension.
Obviously, the longer you live, the more money you can expect
to collect from the plan. Most actuaries estimate that women
who retire at age 60 will live to 84, on average. Men who retire
at age 60 are expected to live to an average of age 79.
The bigger issue for most people is how long it takes for those
starting at the later ages to catch up with those opting for the
earliest date. If you were to take CPP at the age of 65, it would
take you about 11 years to catch up to the total value received
by someone who had taken it at age 60.
It really boils down to you and your financial needs - do you
want more income now or later. Waiting will eventually put
more money in your pocket but it takes several years to collect
the same amount as someone who start early. More importantly, there are no guarantees that you will live long enough to
catch up.
One option is to apply early, invest your first five years of pension income, start working again after qualifying for the early
pension, and perhaps qualify for the low income support programs after age 65.
If you are considering the above, your best choice is to seek
financial help to discuss the options and what’s best for you.
THINGS GOD WON’T ASK ON “THAT” DAY!
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God won’t ask what kind of car you drove. He’ll ask how many
people you drove who didn’t have transportation.
God won’t ask the square footage of your house. He’ll ask how
many people you welcomed into your home.
God won’t ask about the clothes in your closet. He’ll ask how
many you helped to clothe.
God won’t ask what your highest salary was. He’ll ask if you
compromised your character to obtain it.
God won’t ask what your job title was. He’ll ask if you performed your job to the best of your quality.
God won’t ask how may friends you had. He’ll ask how many
people to whom you were a friend.
God won’t ask in what neighborhood you lived. He’ll ask how
you treated your neighbors.
God won’t ask about the color of your skin. He’ll ask the
content of your character.
PEOPLE GROW THROUGH EXPERIENCE IF THEY MEET LIFE
HONESTLY AND COURAGEOUSLY. THIS IS HOW
CHARACTER IS BUILT.
CAMP POTATOES - (these are to die for!)
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Heavy duty aluminum foil.
Potatoes, as many as needed, cut into medium
cubes.
Butter - as much as desired.
Salt, pepper & garlic.
1 to 2 cups of chopped onions (to your liking).
You will need a piece of foil about 18 inches long. In the center of
the foil, add the chopped potatoes, some butter to your taste (at least
1 tablespoon to keep the potatoes from sticking to the aluminum).
Add the seasonings to your taste , all the onions (more if you like
onions). Wrap this tightly and place in the campfire or on a grill
above the hot coals for about 30 to 45 minutes.
Food always taste better cooked in the great outdoors.
RULES OF LIFE
1.
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5.
6.
You need only 2 tools. WD-40 and duct tape. If it doesn’t move and
it should, use WD-40. If it moves and shouldn’t, use the tape.
The 5 most essential words for a healthy, vital relationship: “I
apologize” and “You are Right”.
Everyone seems normal until you get to know them.
When you make a mistake, make amends immediately. It’s easier
to eat crow while it’s still warm.
Learn to pick your battle; Ask yourself, “Will this matter one year
from now? How about one month? One week? One day?
If you woke up breathing, congratulations! You
have another chance!
LIFE IS A PROMISE…….FULFILL IT!
AND DON’T FORGET TO DANCE ALONG THE
WAY.
THE BENEFITS OF LAUGHTER
Physical Health Benefits:
Mental Health Benefits:
1) Boosts immunity.
2) Lowers stress hormones.
3) Decreases Pain.
4) Relaxes your muscles.
5) Prevents heart disease
1) Adds joy and zest to life.
2) Eases anxiety and fear.
3) Relieves stress.
4) Improves mood.
5) Enhances Resilience
Social Benefits:
1) Strengthens Relationships.
2) Attracts others to you.
3) Enhances teamwork.
4) Helps defuse conflict.
5) Promotes group bonding.
Laughter is good for your health.
Laughing relaxing your whole body: A good hearty laugh relieved physical tension & stress leave your body relaxed for 45 minutes after.
Laughter boosts the immune system: Laughter decreases stress hormones and increases immune cells & infection-fighting anti-bodies , thus improving your resistance to disease.
Laugher triggers the release of endorphins: which is the body’s natural feel good
chemicals. Endorphins promote an overall sense of well being & can even temporarily relieve pain.
Laughter protects the heart: Laugher improves the function of blood
vessels & increases blood flow, which and help protect you from a heart attack.
ASO— (continued from last issue)
In the last issue of the PB&J we briefly outlined what ASO
(Administrative Services Only) means. In this issue we will discuss the
pricing mechanics of an ASO arrangement verses the fully insured
arrangement which we currently utilize.
Pricing: Under a fully insured funding model as we have today, the
insurance company sets the price (rates) on the various benefits for a
12 month period. Based on these prices, the MCSGS pays premiums
every month. If the premiums paid over the year are insufficient to
cover all the claims for the given period, the insurance company (in
our case MB Blue Cross) has to cover the shortfall. Similarly, if the
premiums paid by the MCSGS over the coarse of the year are greater
than required in order to cover the claims, the carrier keeps the surplus.
Using an ASO funding method, the MCSGS would in cooperation
with the carrier establish rates for each benefit. Based on these prices,
premiums are paid every month as we do currently. At the end of the
year, if the premiums paid fall short of covering the claims, the
MCSGS would have to pay the difference to the carrier. If on the
other hand the premiums exceed the claims, the carrier would provide
the MCSGS a refund of the surplus.
More to follow in future issues!
A Miracle?
Father O'Malley was driving down to Boston when he was
stopped for speeding in Medford. The highway patrol officer
smelled alcohol on the priest's breath and then saw an
empty wine bottle on the floor of the car.
He said, 'Father, have you been drinking?'
'Only water', replied Father O'Malley.
The policeman asked, 'Then how come I can smell wine?'
The priest looked at the bottle and said, 'Good Lord! He's
done it again.'